Redfin (NASDAQ:RDFN) Price Target Increased to $15.00 by Analysts at B. Riley

by · The Markets Daily

Redfin (NASDAQ:RDFN – Free Report) had its price objective raised by B. Riley from $13.00 to $15.00 in a research report released on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on the company. Susquehanna lowered their price target on Redfin from $8.00 to $7.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a hold rating on shares of Redfin in a report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on Redfin from $8.00 to $7.00 and set a neutral rating on the stock in a report on Thursday, August 8th. Wedbush reissued a neutral rating and set a $8.00 price objective on shares of Redfin in a report on Wednesday, August 7th. Finally, DA Davidson reissued a neutral rating and set a $7.25 price objective on shares of Redfin in a report on Wednesday, July 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Redfin presently has an average rating of Hold and an average price target of $7.88.

Check Out Our Latest Report on Redfin

Redfin Stock Performance

Shares of RDFN opened at $11.71 on Monday. The stock’s 50-day simple moving average is $9.92 and its 200 day simple moving average is $7.63. Redfin has a 52-week low of $4.26 and a 52-week high of $15.29. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of -9.84 and a beta of 2.66. The company has a debt-to-equity ratio of 295.91, a quick ratio of 1.48 and a current ratio of 1.48.

Redfin (NASDAQ:RDFN – Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.03. Redfin had a negative return on equity of 1,780.89% and a negative net margin of 13.55%. The firm had revenue of $295.20 million for the quarter, compared to analysts’ expectations of $291.59 million. During the same quarter last year, the firm posted ($0.25) EPS. The company’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that Redfin will post -1.13 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Christian John Taubman sold 3,632 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $9.25, for a total transaction of $33,596.00. Following the transaction, the insider now directly owns 71,720 shares in the company, valued at approximately $663,410. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Redfin

Several institutional investors and hedge funds have recently bought and sold shares of RDFN. Mather Group LLC. grew its position in shares of Redfin by 282.1% in the 2nd quarter. Mather Group LLC. now owns 3,821 shares of the company’s stock worth $25,000 after buying an additional 2,821 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Redfin by 205.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,608 shares of the company’s stock worth $31,000 after buying an additional 3,101 shares during the last quarter. EntryPoint Capital LLC bought a new stake in shares of Redfin in the 1st quarter worth approximately $58,000. New York State Teachers Retirement System bought a new stake in shares of Redfin in the 1st quarter worth approximately $66,000. Finally, First Trust Direct Indexing L.P. bought a new stake in shares of Redfin in the 1st quarter worth approximately $72,000. 61.07% of the stock is currently owned by institutional investors.

Redfin Company Profile

(Get Free Report)

Redfin Corporation operates as a residential real estate brokerage company in the United States and Canada. The company operates an online real estate marketplace and provides real estate services, including assisting individuals in the purchase or sell of home. It also provides title and settlement services; and originates and sells mortgages.

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